Rhetan TMT stock surges 10% upper circuit;  AGM on Sep 16 to consider and approve company borrowing limit to Rs. 300 crore for Business expansion
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Rhetan TMT stock surges 10% upper circuit;  AGM on Sep 16 to consider and approve company borrowing limit to Rs. 300 crore for Business expansion

The company has proposed enhancing its borrowing capacity from Rs. 200 crore to Rs. 300 crore for business expansion

TBT Online Desk
September 2, 2026 3 Min Read
Ahmedabad (Gujarat) [India], September 2: Shares of Rhetan TMT Limited (BSE: 543590 | NSE: RHETAN), an Ahmedabad-based manufacturer of TMT steel bars, surged 10% to hit the upper circuit on Wednesday, after investor focus increased ahead of the company’s upcoming Annual General Meeting (AGM), scheduled for September 16, 2026. Company’s shares increased 10% on September 2 and hit upper circuit of Rs. 21.05 per share on BSE. Highlights:-
  • Successfully commenced power generation from its 1 MW captive ground-mounted solar power project.
  • Captive solar power project expected to enhance operational efficiency, optimise energy costs and strengthen long-term cost competitiveness, reinforcing the Company’s commitment to sustainable manufacturing.
  • Rhetan TMT has also delivered strong profitability growth, with its profit increasing at a robust 140% CAGR over the past five years.
  • BIS certification enables the Company to supply premium Fe500D, Fe550 and Fe550D TMT bars to government and PSU infrastructure projects, strengthening its value-added product portfolio.
Expanded portfolio of higher-grade TMT bars expected to support long-term growth and reinforce the Company’s presence in the premium steel segment. The company has proposed enhancing its borrowing capacity from Rs. 200 crore to Rs. 300 crore, excluding temporary bank loans obtained in the ordinary course of business, through a Special Resolution at the AGM. The proposed enhancement is aimed at providing greater financial flexibility to support the company’s business expansion, growth initiatives and future funding requirements. Rhetan TMT has also delivered strong profitability growth, with its profit increasing at a robust 140% CAGR over the past five years. The proposed increase in borrowing capacity is expected to strengthen the company’s ability to deploy capital towards its planned growth opportunities. Company has recently commenced power generation from its 1 MW captive ground-mounted solar power project at its manufacturing facility in Kadi, Gujarat. The project is now operational and generating renewable power for captive consumption, marking an important step in strengthening the Company’s energy infrastructure and manufacturing efficiency. With the solar power project now operational, the Company expects it to support the energy requirements of its manufacturing facility and contribute to the integration of renewable energy into its manufacturing operations. With energy accounting for nearly 20% of the Company’s overall cost base, the captive renewable power source is expected to support greater operational efficiency and cost competitiveness over the long term. The successful operationalisation of the project also reflects Rhetan TMT’s continued focus on strengthening its manufacturing infrastructure and adopting sustainable energy solutions as part of its long-term business strategy. Complementing its manufacturing capabilities, Rhetan TMT has strengthened its product portfolio with Bureau of Indian Standards (BIS) certification for premium-grade Fe500D, Fe550 and Fe550D TMT bars. The certification enables the Company to supply these premium-grade TMT bars for government and PSU infrastructure projects across India, strengthening its presence in a high-value market segment while reinforcing its commitment to delivering quality products that meet the evolving requirements of the country’s infrastructure sector. Commenting on the development, Mr. Shalin Shah, Managing Director of Rhetan TMT Limited, said, “The commissioning of our 1 MW captive solar power project is an important step in strengthening the energy economics of our manufacturing operations. With energy representing a meaningful component of our cost base, the project gives us greater control over a key operating input while also supporting our sustainability objectives. At the same time, the BIS certification for Fe500D, Fe550 and Fe550D grades expands our ability to serve higher value infrastructure requirements. Together, these initiatives strengthen our manufacturing efficiency and product capabilities while providing a stronger platform for our next phase of growth.” With the addition of captive renewable power and an expanded portfolio of higher-grade TMT products, Rhetan TMT is strengthening both the efficiency of its manufacturing operations and the breadth of markets it can serve. The Company remains focused on enhancing its capabilities in line with the evolving requirements of India’s infrastructure, construction and real estate sectors. About Rhetan TMT Limited Rhetan TMT Limited is a leading manufacturer of TMT bars and round bars, catering to the infrastructure, construction and real estate sectors. With over four decades of industry experience, the Company operates a fully mechanized rolling mill at Kadi, Gujarat, and manufactures high quality steel products using advanced thermo mechanical treatment technology. Rhetan TMT is committed to delivering products that meet stringent quality standards while continuously enhancing its manufacturing capabilities through innovation, technology and operational excellence. The Company remains focused on creating long term value by supporting India’s growing infrastructure and construction needs.  

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